State of Alaska Department of Revenue decreased its position in WestRock (NYSE:WRK – Free Report) by 62.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,744 shares of the basic materials company’s stock after selling 52,789 shares during the period. State of Alaska Department of Revenue’s holdings in WestRock were worth $922,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. MidWestOne Financial Group Inc. boosted its holdings in WestRock by 3.6% during the first quarter. MidWestOne Financial Group Inc. now owns 8,606 shares of the basic materials company’s stock worth $405,000 after buying an additional 300 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in WestRock by 0.6% during the first quarter. Yousif Capital Management LLC now owns 53,133 shares of the basic materials company’s stock worth $2,499,000 after buying an additional 340 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in WestRock by 0.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 108,787 shares of the basic materials company’s stock worth $3,315,000 after buying an additional 367 shares in the last quarter. Advisory Services Network LLC boosted its holdings in WestRock by 3.6% during the first quarter. Advisory Services Network LLC now owns 10,760 shares of the basic materials company’s stock worth $328,000 after buying an additional 372 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its holdings in WestRock by 1.8% during the first quarter. Centaurus Financial Inc. now owns 21,477 shares of the basic materials company’s stock worth $1,010,000 after buying an additional 383 shares in the last quarter. Hedge funds and other institutional investors own 85.51% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently commented on WRK shares. StockNews.com began coverage on shares of WestRock in a report on Sunday. They set a “hold” rating on the stock. Wells Fargo & Company lifted their target price on shares of WestRock from $37.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Truist Financial lifted their target price on shares of WestRock from $34.00 to $44.00 and gave the stock a “hold” rating in a research report on Thursday, September 21st. Royal Bank of Canada lifted their target price on shares of WestRock from $33.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, August 4th. Finally, UBS Group cut their target price on shares of WestRock from $42.00 to $37.00 in a research report on Friday, June 30th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $37.57.
WestRock Stock Performance
Shares of WRK stock opened at $37.03 on Tuesday. WestRock has a one year low of $26.84 and a one year high of $39.30. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.98 and a current ratio of 1.49. The company has a 50 day moving average price of $34.49 and a 200 day moving average price of $31.31. The firm has a market capitalization of $9.49 billion, a price-to-earnings ratio of -6.68 and a beta of 1.15.
WestRock (NYSE:WRK – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.39. WestRock had a negative net margin of 6.82% and a positive return on equity of 8.75%. The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.16 billion. During the same period in the previous year, the firm earned $1.54 earnings per share. WestRock’s revenue for the quarter was down 7.2% on a year-over-year basis. Sell-side analysts anticipate that WestRock will post 3.02 EPS for the current year.
WestRock Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were paid a dividend of $0.275 per share. The ex-dividend date was Wednesday, August 9th. This represents a $1.10 annualized dividend and a yield of 2.97%. WestRock’s dividend payout ratio is currently -19.86%.
About WestRock
WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates in four segments, Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.
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